Goldman Sachs Group, Inc. (the) · NYSE:GS
Goldman Sachs Group, Inc. (the) — Q1 2023 Earnings Presentation
14 slides from Goldman Sachs Group, Inc. (the)'s earnings presentation, Apr 18, 2023
Slide 1: First Quarter 2023 Earnings Results Presentation
Exhibit 99.2 First Quarter 2023 Earnings Results Presentation April 18, 2023
Slide 2: Results Snapshot
Results Snapshot Net Revenues Net Earnings EPS 1Q23 $12.22 billion 1Q23 $3.23 billion 1Q23 $8.79 1 1 Annualized ROE Annualized ROTE Book Value Per Share 1Q23 11.6% 1Q23 12.6% 1Q23 $310.48 (+2.3% YTD) Highlights 2 3,4 #1 in completed M&A Record AUS of $2.67 trillion Strong net revenues in FICC and Eq
Slide 3: Financial Overview
Financial Overview Financial Results Financial Overview Highlights n 1Q23 results included EPS of $8.79 and ROE of 11.6% vs. vs. $ in millions, — 1Q23 net revenues were slightly lower YoY except per share amounts 1Q23 4Q22 1Q22 o Lower net revenues in Global Banking & Markets $ 8,444 30% (16)% Globa
Slide 4: Global Banking & Markets Financial Results
Global Banking & Markets Financial Results Global Banking & Markets Highlights n 1Q23 net revenues were lower YoY compared to a strong 1Q22 vs. vs. — Investment banking fees primarily reflected significantly lower net revenues in Advisory and $ in millions 1Q23 4Q22 1Q22 Debt underwriting Investment
Slide 5: Global Banking & Markets – Net Revenues
Global Banking & Markets – Net Revenues Net Revenues Global Banking & Markets Net Revenues Highlights n 1Q23 Investment banking fees were significantly lower YoY vs. vs. — Advisory reflected a significant decline in industry-wide completed mergers and acquisitions $ in millions 1Q23 4Q22 1Q22 transa
Slide 6: Asset & Wealth Management Financial Results
Asset & Wealth Management Financial Results Asset & Wealth Management Highlights n 1Q23 net revenues were significantly higher YoY vs. vs. — Management and other fees primarily reflected the inclusion of NN Investment Partners $ in millions 1Q23 4Q22 1Q22 (NNIP) and a reduction in fee waivers on mon
Slide 7: Assets Under Supervision
Assets Under Supervision 3,4 3,4 AUS Rollforward AUS Highlights n During the quarter, AUS increased $125 billion to a record $2.67 trillion $ in billions 1Q23 4Q22 1Q22 — Net market appreciation of $68 billion, primarily in equity and fixed income assets Beginning balance $ 2,547 $ 2,427 $ 2,470 — L
Slide 8: Asset & Wealth Management – Alternative Investments
Asset & Wealth Management – Alternative Investments 4 4 Alternative Investments AUS and Effective Fees Alternative Investments Highlights n 1Q23 Management and other fees from alternative investments were $494 million, up 21% compared with 1Q22 1Q23 n During the quarter, alternative investments AUS
Slide 9: Platform Solutions Financial Results
Platform Solutions Financial Results Platform Solutions Highlights n 1Q23 net revenues more than doubled YoY vs. vs. — Consumer platforms primarily reflected significantly higher average credit card balances $ in millions 1Q23 4Q22 1Q22 — Transaction banking and other reflected higher average deposi
Slide 10: Loans and Net Interest Income
Loans and Net Interest Income 4 4 Loans by Segment ($ in billions) Loans by Type 1Q23 Metrics $ in billions 1Q23 4Q22 1Q22 3.0% $178 $179 $166 ALLL to Total Corporate $ 40 $ 40 $ 39 Gross Loans, at Amortized Cost Commercial real estate 29 29 32 Global Banking Residential real estate 22 23 24 & Marke
Slide 11: Expenses
Expenses Financial Results Expense Highlights n 1Q23 total operating expenses increased YoY vs. vs. — Non-compensation expenses were higher, reflecting: 1Q23 4Q22 1Q22 $ in millions o Impairments of ~$355 million related to consolidated real estate investments (in depreciation and amortization) Comp
Slide 12: Capital and Balance Sheet
Capital and Balance Sheet 3,4 3,4 Capital Capital and Balance Sheet Highlights n Standardized CET1 capital ratio decreased QoQ 1Q23 4Q22 1Q22 — Increase in credit RWAs driven by increased exposures 8 15.0%n Advanced CET1 capital ratio increased QoQ Standardized CET1 capital ratio 14.8% 14.4% — Decre
Slide 13: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts or statements of current con
Slide 14: Footnotes
Footnotes 1. Annualized return on average common shareholders’ equity (ROE) is calculated by dividing annualized net earnings applicable to common shareholders by average monthly common shareholders’ equity. Annualized return on average tangible common shareholders’ equity (ROTE) is calculated by di